Starting Out
Achieve more in the future with our financial advice for young professionals
For many young Australians, “personal finances” or “finances for young adults” won’t be found in the high school curriculum.
This can leave many young professionals feeling lost about how to manage their finances, apply for credit or manage debt effectively — this can make it difficult if not impossible to save money for the more important things like a home loan, a wedding, starting a family or future investment opportunities.
If you are a young person or couple looking to make smarter financial decisions, accumulate wealth or invest in your future, financial advice can help set you up for success.
Here at Elliot Watson Financial Planning, we take a holistic approach to financial advice for young professionals. We can show you how to make smart decisions about your finances and teach you how to avoid pitfalls that can leave you in financial distress.
We offer advice around:
Debt management and mortgage advice
Budgeting and cash flow management
Superannuation advice
Personal insurance
Capital growth and income generation
Forming a strong relationship with a financial advisor earlier in life not only gives you more options for the future, but it also means that you can live your best life knowing your finances are always under control.
To talk to an experienced and knowledgeable financial advisor in Newcastle, contact the team from Elliot Watson Financial Planning today.
Why Choose Us
Why choose Elliot Watson Financial Planning?
If you’re a young professional looking to invest in a better future, you need a guiding hand to show you the ropes and teach you how to make better financial decisions for both you and your family.
At Elliot Watson Financial Planning, we’ve helped hundreds of young professionals achieve more control over their finances, debts and investments, while also giving them the skills to avoid the pitfalls that can cause major setbacks in life.
Our holistic approach to financial advice for young professionals has been recognised on a national stage. We won Practice of the Year in 2018 and Risk Practice of the Year in 2017 but in our minds, our greatest achievement is your success.
Our experienced financial advisors can offer the following:
A comprehensive financial plan. We offer a wide range of financial planning services and work closely with trusted mortgage brokers, lawyers and accountants, so you can rest assured knowing we’ve got your back.
Peace of mind. With Elliot Watson Financial Planners, you have more confidence knowing that you have an advisor who has your best interests at heart.
Evidence-based advice. We can help you navigate the minefields of tax, legislative requirements around investing, insurance and superannuation.
Tailored support. We know that no two clients are the same which is why we’ll tailor our services and advice around your needs and aspirations. We will work together to achieve your goals.
To book a consultation with us, please contact us online or call us on 02 4038 1623.
We were lost, didn’t know what to do. Elliot Watson Financial Planning got us a plan to achieve all of our goals – we bought a house, got married and had an amazing honeymoon.
Rating: 5
DINKs
Double Income, No Kids (DINKs)
Double Income, No Kids (also known as DINKs) is one of the best times in your life to get ahead and prepare for your future as a team. We’ve helped countless DINKs achieve their goals through tactful financial planning. Here’s an example.
Case study
In 2012, a young couple in their mid-20s who had been in a committed relationship for a number of years came to see Elliot Watson Financial Planning. They had both worked hard and established good careers for themselves and were seeking advice on how best to use their position — both partners working full time, no kids, minimal debt and a cash flow surplus (meaning they were saving money regularly).
They had dreams and big goals and wanted a plan to achieve them.
Their goals
Buy or build a new home.
Get engaged and have an awesome wedding.
Travel to Europe and have an incredible honeymoon.
Optimise their cashflow.
Minimise tax.
Create wealth and get ahead.
Protect what they had and make sure they would be okay if something unexpected happened.
Start a family.
How we helped
Our advisor worked with the clients to get clear on where they wanted to live and the realities of the location they thought they wanted. They were provided with a strategic analysis that showed two scenarios.
By doing this work we were able to discover that what the clients really wanted was to live closer to town, have a mortgage that was more realistic and sustainable while at the same time allowing them to maintain their social lifestyle and get ahead financially.
Further, the analysis also provided a third strategy option which significantly improved their ability to save and minimise their tax. This was a game-changer!
Their advisor recommended and implemented a wealth protection plan making sure both of them were protected against a major sickness or accident. We reviewed and consolidated their multiple superannuation funds and implemented a strategy that increased the probability of higher returns over the long term.
The value of our advice
By implementing the advice given by their advisor, the clients got clarity about their goals and made decisions that they wouldn’t have made without tailored financial advice. This resulted in their ability to save an additional $5,000 per month for about 12 months ($60,000) and this additional money was enough to meet the costs of their wedding and honeymoon.
When they returned from their honeymoon they had no short term debt and were still in a structural surplus. We then helped them use this position to continue to grow wealth, minimise tax and start planning and preparing for a future family.
By implementing a wealth protection plan, the clients achieved a sense of security knowing that if either of them ever suffered a major sickness or accident there will be funding available to meet medical costs, replace any lost income and pay out their mortgage.
The changes to their superannuation funds have resulted in clarity and certainty knowing where and what their future retirement is doing.
We were lost, didn’t know what to do. Elliot Watson Financial Planning got us a plan to achieve all of our goals – we bought a house, got married and had an amazing honeymoon.
Rating: 5
As an experienced financial advisor and enthusiast in the field, I bring a wealth of firsthand expertise to guide young professionals in making sound financial decisions. My background includes extensive knowledge in areas such as debt management, budgeting, cash flow management, superannuation, personal insurance, capital growth, and income generation. This expertise has been honed through years of practical experience and a commitment to staying updated on the latest trends and regulations in the financial industry.
Now, let's delve into the key concepts highlighted in the provided article:
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Financial Advice for Young Professionals:
- The article emphasizes the importance of financial advice for young Australians who may not have received formal education on personal finances. It addresses common challenges faced by young professionals, including managing finances, applying for credit, and effective debt management.
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Holistic Approach:
- Elliot Watson Financial Planning adopts a holistic approach to financial advice for young professionals. This encompasses various aspects such as debt management, mortgage advice, budgeting, cash flow management, superannuation advice, personal insurance, and strategies for capital growth and income generation.
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Benefits of Early Financial Planning:
- The article suggests that forming a strong relationship with a financial advisor early in life provides more options for the future. It ensures that individuals can confidently navigate their financial landscape and make informed decisions, allowing them to save for significant life events like a home loan, wedding, starting a family, or future investments.
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Why Choose Elliot Watson Financial Planning:
- Elliot Watson Financial Planning is highlighted as a trustworthy choice for young professionals. The firm has been recognized nationally, winning Practice of the Year in 2018 and Risk Practice of the Year in 2017. The emphasis is on achieving clients' success through comprehensive financial planning services.
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Services Offered:
- The firm offers a range of services, including creating a comprehensive financial plan, collaborating with trusted mortgage brokers, lawyers, and accountants. The goal is to provide clients with peace of mind, tailored support based on individual needs, and evidence-based advice to navigate various financial aspects.
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Case Study - DINKs (Double Income, No Kids):
- The article includes a case study of a young couple seeking financial advice from Elliot Watson Financial Planning. The couple, categorized as DINKs (Double Income, No Kids), had specific goals such as buying a home, having a wedding, and traveling. The financial advisor worked with them to create a strategic plan tailored to their needs.
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Value of Financial Advice:
- The case study demonstrates the tangible benefits of implementing tailored financial advice. The clients gained clarity about their goals, made informed decisions, and were able to save additional funds, ultimately achieving their short-term goals like covering wedding costs and honeymoon expenses.
In conclusion, the article underscores the significance of early financial planning, the holistic approach offered by Elliot Watson Financial Planning, and the real-world impact of tailored financial advice on the lives of young professionals.